27 Jan '14, 5am

Property agents hit by weak market, new rules......

Property agents hit by weak market, new rules......

To help his team reach customers, Mr Fong spent $150,000 to create an app that agents and home buyers can download. -- ST PHOTO: MUGILAN RAJASEGERAN A DOUBLE whammy of a weak market and recent restrictions on cold calls has hit the real estate industry hard, veterans say. Sales have plunged by as much as 60 per cent for some, they said. Real estate agents are also shelling out extra money to reach out to potential buyers as new regulations make it harder to tap prospects. "I've been in this business for over 20 years and it's never been so challenging as right now," said ECG agency head Johnny Loy. He said his team's sales have tumbled "easily 50 to 60 per cent". ECG has about 230 agents. It has not helped that a new Do-Not-Call (DNC) Registry, designed to protect consumers from unwanted marketing, came into effect this month. Agents have had to spend extra money to make s...

Full article: http://www.stproperty.sg/articles-property/property-agent...

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